Reddit Announces Pricing of Initial Public Offering
Reddit, Inc. (“Reddit”) today announced the pricing of its initial public offering of an aggregate 22,000,000 shares of its Class A common stock, 15,276,527 of which are being sold by Reddit and 6,723,473 of which are being sold by certain selling stockholders, at a public offering price of $34 per share.
- Reddit, Inc. (“Reddit”) today announced the pricing of its initial public offering of an aggregate 22,000,000 shares of its Class A common stock, 15,276,527 of which are being sold by Reddit and 6,723,473 of which are being sold by certain selling stockholders, at a public offering price of $34 per share.
- Reddit will not receive any proceeds from any sale of shares by the selling stockholders.
- In addition, Reddit has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.
- Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Securities are acting as lead book-running managers for the offering.